Streetbeat News

Labor Issues

OSK

Oshkosh Corporation has appointed Michael Pack as the new President of its Vocational Segment, succeeding the retiring Jim Johnson.

Portfolio Pulse from Benzinga Newsdesk

June 03, 2024 | 8:33 pm

MSFT

Microsoft is cutting hundreds of employees from its Azure cloud business, with reports suggesting as many as 1,500 job cuts. This move is part of a broader effort to streamline operations and improve efficiency within the company.

Portfolio Pulse from Benzinga Newsdesk

June 03, 2024 | 7:54 pm

TTWO

Take-Two Interactive Software Inc (NASDAQ:TTWO) is considering selling or closing its Private Division, which includes Intercept Games and Roll7. Both studios are on the verge of shutting down, with most staff already laid off. Efforts to sell the Kerbal Space Program IP have faced challenges, and ongoing projects are uncertain.

Portfolio Pulse from Franca Quarneti

June 03, 2024 | 7:54 pm

MSFT

Microsoft has announced layoffs in its mixed reality division but will continue selling the HoloLens 2 headset. The company remains committed to the Department of Defense's IVAS program and will keep investing in the broader mixed reality hardware ecosystem. Despite the layoffs, Microsoft will support existing HoloLens 2 customers and partners.

Portfolio Pulse from Benzinga Newsdesk

June 03, 2024 | 7:52 pm

IRBO

NNDM

SCZ

Nano Dimension Ltd (NASDAQ:NNDM) reported a 10.7% year-on-year drop in Q1 revenue to $13.36 million, attributed to decreased sales. Despite this, the company improved its adjusted gross margin to 49.8% and reduced its operating loss to $18.97 million. The company also held $793.08 million in cash and equivalents as of March-end. Cost-cutting measures, including a 25% workforce reduction, are expected to save $30 million annually. NNDM shares are down 3.497% to $2.625.

Portfolio Pulse from Anusuya Lahiri

June 03, 2024 | 2:30 pm

OCUL

Ocular Therapeutix has announced a strategic reduction in its workforce, eliminating 37 employees, or 13% of its total workforce. This move is aimed at focusing resources on the clinical development of AXPAXLI for wet age-related macular degeneration.

Portfolio Pulse from Benzinga Newsdesk

June 03, 2024 | 1:20 pm

TGB

Taseko Mines has suspended operations at its Gibraltar Mine due to unresolved union negotiations. This suspension could impact the company's short-term production and financial performance.

Portfolio Pulse from Benzinga Newsdesk

June 03, 2024 | 7:24 am

NISTY

X

Nippon Steel is intensifying efforts to acquire U.S. Steel despite opposition from the Biden administration and the United Steelworkers union. Vice Chairman Takahiro Mori is returning to the U.S. for further discussions and is open to asset divestitures to gain regulatory approval. The $14.9 billion deal faces delays due to political resistance but could significantly boost Nippon Steel's profits if completed.

Portfolio Pulse from Benzinga Neuro

June 03, 2024 | 6:49 am

KDP

Keurig Dr Pepper (KDP) plans to add approximately 425 employees to support new state-wide operations.

Portfolio Pulse from Benzinga Newsdesk

May 31, 2024 | 8:02 pm

ACDVF

Air Canada has been granted the right to test a flight attendant's hair for drugs following reports of misconduct. The decision, made by a federal labor arbitrator, allows the airline to ensure safety despite union objections regarding privacy and personal life rights.

Portfolio Pulse from Nina Zdinjak

May 31, 2024 | 7:20 pm